5 Best Buy-the-Dip Stocks To Buy Right Now

2. Exxon Mobil Corporation (NYSE:XOM)

Number of Hedge Fund Holders: 85

Industry: Energy 

Exxon Mobil Corporation (NYSE:XOM) is one of the top 52-week low stocks to invest in. On February 2, Exxon Mobil Corporation (NYSE:XOM) announced a Q4 non-GAAP EPS of $2.48, beating market estimates by $0.27. However, the revenue dropped 11.6% year-over-year to $84.34 billion, falling short of Street consensus by $4.48 billion. The company also declared a $0.95 per share quarterly dividend, which is payable on March 11 to shareholders of record on February 14. 

According to Insider Monkey’s fourth quarter database, 85 hedge funds were bullish on Exxon Mobil Corporation (NYSE:XOM), compared to 79 funds in the last quarter. Ken Fisher’s Fisher Asset Management is the biggest stakeholder of the company. 

In its Q2 2022 investor letter, First Eagle Investments, an asset management firm, highlighted a few stocks and Exxon Mobil Corporation (NYSE:XOM) was one of them. Here is what the fund said:

“Integrated oil and gas giant Exxon Mobil Corporation (NYSE:XOM) performed well in the second quarter as continued high prices for energy products supported the stock. As the largest refiner in the US, the company has benefitted from wide “crack spreads,” or the margin between the cost of crude oil and the petroleum products extracted from it. Exxon continues to invest in refining capacity in the US, which industry wide has been in steady decline since 2019. We are pleased that Exxon has been using its strong cash flows to reduce debt and to return cash to shareholders through dividends and stock repurchases.”